16. March 2020
SCHMOLZ + BICKENBACH announces results of change of control offer
Lucerne, March 16, 2020 – SCHMOLZ + BICKENBACH, a global leader in special long steel, has today announced that the holders of the EUR 350 million 5.625% Senior Secured Notes (“Notes”) issued by SCHMOLZ + BICKENBACH Luxembourg Finance S.A. (“Issuer”) and due in 2022 have validly tendered EUR 328,753 million (93.93 %) of the Notes as of the expiration of the offer on March 13, 2020.
The tender offer was triggered by the change of control event related to the capital increase on January 8, 2020. The purchase by the Issuer of the Notes which have been validly tendered will be settled against payment of the Change of Control Purchase Price equal to 101% of the principal amount plus accrued and unpaid interest on March 31, 2020.
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